OPEC+ keen to keep oil prices at $65-$75 a barrel, Lukoil chief says
The head of Russia’s No. 2 oil producer Lukoil (LKOH.MM) said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group...
OPEC
Egypt’s GDP growth at 7.7 per cent in fourth quarter
Egypt’s gross domestic product (GDP) grew 7.7 per cent in the March to June quarter compared to a 1.7 per cent contraction in the same...
Oil climbs while OPEC+ considers output increase
Oil rose almost $2 on Thursday, supported by the prospect of strengthening demand, lower US stocks and a Reuters report that OPEC+ producers could increase...
OPEC yet to agree final deal as Iran seeks exemptions
Iran appeared on Friday to be the main obstacle for an OPEC deal to cut oil production as the group’s leader Saudi Arabia had yet...
Trump slams OPEC, says: ‘Oil prices are artificially Very High!’
U.S. President Donald Trump on Friday criticized OPEC for output reductions that have helped raise oil prices and said the action would not be tolerated, as oil...
OPEC, Russia agree oil cut extension to end of 2018
Opec and non-Opec producers led by Russia agreed on Thursday to extend oil output cuts until the end of 2018 as they try to finish clearing a...
OPEC in first joint oil cut with Russia since 2001, Saudis take “big hit” (Update 2)
OPEC has agreed its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand on...
Saudis, Iran dash hopes for Opec oil deal in Algeria
Saudi Arabia and Iran on Tuesday dashed hopes that Opec oil producers could clinch an output-limiting deal in Algeria this week as sources within the...
Playing chicken at OPEC
The upcoming meeting of OPEC member states on June 2 will generate lots of discussion about the current slump in global oil prices. What it...
Saudi-Iran tensions scupper deal to freeze oil output
A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls...
Venezuela raises fuel price, devalues bolivar amid crisis
Venezuelan President Nicolas Maduro on Wednesday devalued the currency and raised heavily subsidized fuel prices in an effort to stem a widening economic crisis, though...
Iran says will resist curbs on oil output as part of global pact (Update 3)
Iran on Wednesday stopped short of offering to restrain oil output as part of a global pact to freeze production to prop up prices, because...
Saudis, Russia agree oil output freeze, talks with Iran to follow (Update 2)
By Rania El Gamal and Tom Finn Top oil exporters Russia and Saudi Arabia agreed on Tuesday to freeze output levels but said the deal...
Russia says Saudis proposing 5 per cent global oil cut
By Darya Korsunskaya and Rania El Gamal Russia said on Thursday that OPEC kingpin Saudi Arabia had proposed global oil production cuts of up to...
Oil prices hit lowest since 2004 as supply balloons
By Amanda Cooper Brent crude prices hit their lowest in over 11 years on Monday, hounded by a relentless rise in global supply that looks...
OPEC sticks to oil output levels as global glut grows
By Rania El Gamal, Alex Lawler and Reem Shamseddine OPEC maintained its policy of pumping near-record volumes of oil at a meeting on Friday, according...
Iraq oil overtakes Saudi in Europe as OPEC battles rage on – IEA
A market share battle between Russia and OPEC oil producers in Europe is intensifying as Iraq has overtaken Saudi Arabia as the second largest seller...
Kuwait sees no call for policy change as OPEC eyes balanced market
By Rania El Gamal Kuwait said on Monday there were no calls within OPEC to change the oil group’s production policy and that lower output...
‘Expect more reductions in electricity prices’
The head of the energy regulatory authority CERA George Shammas said on Thursday that further electricity price reductions were expected in the coming months. Speaking...
Why did Russia cancel the South Stream project?
By Stelios Papadopoulos RUSSIA scrapped the South Stream pipeline project to supply gas to southern Europe without crossing Ukraine and instead named Turkey as its...